SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Intel Corp. (INTC) on Thursday reported a loss of $16.64 billion in its third quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of $3.88. Losses, adjusted for non-recurring costs and restructuring costs, came to 46 cents per share.
The results did not meet Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The world’s largest chipmaker posted revenue of $13.28 billion in the period, surpassing Street forecasts. Thirteen analysts surveyed by Zacks expected $13.01 billion.
For the current quarter ending in December, Intel expects its per-share earnings to be 12 cents.
The company said it expects revenue in the range of $13.3 billion to $14.3 billion for the fiscal fourth quarter.
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